An investment fund backed by Donald Trump Jr. saw assets soar ten-fold in one year, growing from roughly $200 million to about $2 billion, and has now closed to new investors after the rapid expansion. The firm behind the fund is also launching a new real estate vehicle aimed at development in key U.S. markets.
The 1789 Capital Growth Equity Fund, co-founded by investor Omeed Malik and including Donald Trump Jr. as a partner, experienced explosive asset growth through 2025 as it focused on companies tied to U.S. national security, domestic innovation, and “patriotic capitalism.” By year-end, fund managers informed sources that the fund had reached approximately $2 billion in total assets under management — a tenfold increase from its roughly $200 million start at the beginning of the year.
Following the surge, the fund has closed its doors to new investors, signaling confidence in the current portfolio and a desire to focus on managing existing holdings rather than taking in fresh capital. In parallel, 1789 Capital is rolling out a new real estate fund that has already attracted about $1 billion in commitments, targeting development opportunities in South Florida as people and businesses relocate from high-tax states.
The original growth fund’s holdings reportedly include stakes in high-profile American companies across technology and defense sectors. Investments have touched companies like SpaceX, AI firm Groq, defense technology maker Anduril, and others tied to national security and industrial competitiveness. This investment mix aligns with the firm’s strategy to prioritize U.S.-based businesses central to critical industries.
Donald Trump Jr.’s involvement in the fund is part of his broader vision of promoting what 1789 Capital describes as “patriotic capitalism.” The approach emphasizes backing companies that strengthen U.S. economic and security interests, contrasting with strategies that prioritize environmental, social, and governance (ESG) criteria or global supply chains.
The fund’s rapid expansion comes amid a wider narrative of conservative business interests seeking to build alternatives within the financial sector that echo broader political and economic priorities. By concentrating on U.S.-centric investments and sectors seen as foundational to national strength, 1789 Capital seeks to reflect the values of investors who support a more robust domestic industrial base.
The success of the 1789 Capital Growth Equity Fund underscores growing investor demand for strategies aligned with economic patriotism. Its closure to new capital after tripling its size within a year signals confidence from current backers and positions the firm to continue channeling resources into sectors deemed essential for America’s future competitiveness.
